SJ Semi Secures STAR Market Approval for 4.8B CNY IPO
On February 24, 2026, semiconductor packaging firm SJ Semi received approval from the Shanghai Stock Exchange for an initial public offering on its tech-focused STAR Market. The company intends to raise 4.8 billion CNY to finance two key projects: a three-dimensional multi-chip integration packaging facility and an ultra-high-density interconnect version of the same technology. The approval, which followed an application first accepted on October 30, 2025, marks a significant milestone for the "red-chip" enterprise in accessing domestic capital markets.
Net Profit Grew Over 520% Fueled by AI and GPU Demand
SJ Semi has demonstrated rapid financial expansion, with revenues growing from 3.04 billion CNY in 2023 to 4.71 billion CNY in 2024. During the same period, net profit expanded over 520% from 34.13 million CNY to 214 million CNY. This growth is driven by its specialization in advanced 12-inch wafer-level packaging for high-performance chips, including GPUs, CPUs, and AI accelerators. The firm's services enable heterogeneous integration, a method critical for advancing computing power beyond the limits of traditional Moore's Law scaling.
Firm Lists With No Controlling Shareholder, Backed by State Funds
The company is listing under the STAR Market's second standard for red-chip firms, requiring an estimated market value over 5 billion CNY and annual revenue above 500 million CNY. SJ Semi operates with a distributed ownership structure and no single controlling shareholder. Its largest shareholder is the Wuxi Chanfa Fund with a 10.89% stake, followed by entities affiliated with China Merchants Bank (9.95%) and CICC (5.33%), indicating broad backing from state-linked and financial institutional investors.
Edgen Stock·Feb 24 2026, 10:59